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Property profile & analytics
OFF-MARKET
Estimated value
$4,995,000
Warehouses
1885 1st St Springfield, OH 45504-1926
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US66-1092500
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
105,173 SF
Lot
11.01 ac (479,596 SF)
APN
330-06-00011-201-083
UPID
US66-1092500
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Extra Space Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.16M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.41M
Blend (final)
Blend
$5.00M
Owner & transaction history
Rref III Springfield LLC · 4 yrs held
Rref III Springfield LLC
since 2021
Last sale
$4.7M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.0M
+95.0%
Auto repair, garage
$7.8M
+90.7%
Commercial (general)
$6.6M
+60.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Springfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Springfield submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,020,000
ML approach
$4,160,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,095,000
Current use
MEDICAL BUILDING
$7,985,000
Change: +95% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,805,000
Change: +91% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,580,000
Change: +61% · Conversion: Difficult
RETAIL STORES
$6,015,000
Change: +47% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$5,690,000
Change: +39% · Conversion: Difficult
Blend value · Realmo final
$5.00M
Range $4.50M – $5.49M · ±10% · vs last sale $4.69M (Nov 4 2021)
Last sale anchor
$4.69M
Nov 4 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$47 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$100,517
Tax year 2023
Assessed value
$1,641,500
Assessed 2023
Previous assessed
$1,641,500
+0.0% YoY
Effective rate
6.12%
On assessed value
Assessed land
$335,640
Assessed improvement
$1,305,860
Land market value
$958,970
Improvement market value
$3,731,030
Total market value
$4,690,000
Applied tax rate
330.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Total area
105,173 SF
Lot
11.01 ac (479,596 SF)
APN
330-06-00011-201-083
UPID
US66-1092500
Jurisdiction
CLARK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$8.0M
AUTO REPAIR, GARAGE
Est. value
$7.8M
COMMERCIAL (GENERAL)
Est. value
$6.6M
RETAIL STORES
Est. value
$6.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.7M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Lot
11.01 ac
Current owner
From public records · entity-resolved
Rref III Springfield LLC
Entity
Mailing address
30 HUDSON YARDS, NEW YORK, NY 10001-2170
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2021
$4,690,000
Rref III Springfield LLC
1885 W First Street LLC
Limited Warranty Deed
$30,500,000 · Natixis New York Branch
Sep 14, 2018
$1,510,000
1885 W 1st Street LLC
Target Corp
Limited Warranty Deed
$344,200 · Old National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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